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Canaccord should be a bit braver and do what Barclays did today and set a target price of 9,600 P !!!! obviously a typing error on the Hargreaves Broker round up site but I would be happy with half that thank you.
Hard to decide what will happen here.
The SP persists at just over the offer price implying, that the market thinks tha the action isn't over yet. The comments I have seen in the press imply they think Lone Star are taking the p***. With a low shareholding there is a reasonable chance of the bid being rejected, especially as looking at the price chart over the last few years must mean that a significant proportion of shareholders will be in a loss position at 115p. This is reinforced by a feeling that the SP was probably at the bottom of a cycle with the aging population and leasehold concession meaning the business model is strong.
Conversely you have to consider what LS will do if the bid is defeated. Will they increase the bid? If not the shares will drop, and you have to assume that LS will bail pretty quickly while they are still in profit (you have to assume that their holding was largely accumulated at sub 80p)
Seems a great disinterest amongst shareholders here. I cannot remember another share 'in play' attracting so few comments. Anecdotally I conclude that there is little or no support amongst investors to support this bid. Hopefully this means many will vote against this opportunistic bid, like I will. Keep MCS British!
There is life on this board! Yes we have both been on AML, hundreds of post every day there. There are some promising companies who are lucky to get 6 posts a year on lse. Wonder what the psychology is behind that?
Normally I would sell my Grandma to make a few bob (not an easy task as they've been brown bread for years!). But I don't like this bid - ok I don't like the price, but mostly I don't want to see a good British asset caring for the UK elderly sold to some feelingless US Private Equity shark/vulture who will no doubt follow the usual formula of saddling it with debt and leave the residents (present and future) with paring down of services and escalating costs. Doesn't sit well with me. There is a place for ethics in investment. The BOD should be ashamed of this.